State-owned Tema Oil Refinery’s Commerce Division recorded $2,919,515.27 in monthly revenue for February 2025, surpassing its initial target of $1,166,820.00.
This portal understands this is the highest recorded monthly revenue in the last three years.
Sources within the refinery revealed to this portal that the new management has implemented cost-cutting measures to enhance efficiency and minimize product losses.
Furthermore, plans are underway to automate flow meters at the loading gantry to reduce human intervention.
Additional initiatives, including the installation of Closed-Circuit Television (CCTV) cameras, are also being considered to improve operational oversight.
According to TOR’s internal report, captioned “TOR In Brief,” March 2025 edition, exceeding the revenue target sets a new benchmark for success in the upcoming months to support the company in meeting its administrative and statutory obligations.
“The refinery almost tripled its internally generated funds (IGF) in monthly revenue, achieving the highest recorded monthly revenue in the last three years.”
It added that this was the outcome of a team that refuses to settle for less, hard work, and strategic planning, resulting in increased inflows and enhanced product storage, reflecting the refinery’s commitment to the strategy of sweating its assets for increased profits.
“At the heart of this achievement are the resilience and dedication of the Commerce Division, with support from finance, maintenance, production, and teams across the organization to maximize revenue opportunities.”
The publication added that collective efforts have strengthened TOR’s financial standing and set an ambitious precedent for future performance, noting that this serves as motivation for the commerce division to achieve even greater success in the upcoming months to drive sustainable growth in the refinery’s terminal business.
During the previous administration, TOR struggled to return to its former glory.
With the new administration in place and Dr. Yussif Sulemana at the helm, Ghanaians, especially industry players, are expecting nothing but a turnaround of the refinery to guarantee fuel security.
Source:https://energynewsafrica.com
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